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The Cyprus Securities and Exchange Commission (CySEC) just informed about the procedures in place regarding the receipt and follow-up of reports of infringement on market abuse (market abuse regulation).

“Regulation” means the Regulation (EU) No 596/2014 of the European Parliament and of the Council, of 16 April 2014, on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC;

“reporting person” means a person reporting an actual or potential infringement of Regulation to CySEC;

“reported person” means a person who is accused of having committed, or intending to commit, an infringement of Regulation by the reporting person;

“report of infringement” means the report submitted by the reporting person to CySEC regarding an actual or potential infringement of the Regulation;

“dedicated staff members of the competent department” means the dedicated staff members of the Market Surveillance and Investigations Department of CySEC;

“discrimination” means the negative effects that the reporting person encounters or may encounter as a result of the submission of a report of infringement and includes among others the following cases:

The reporting persons is subject to any kind of proceedings as a result of the submission of a report of infringement or violation of professional secrecy and or any other in force code of conduct;

Dismissal, remuneration reduction, employment status or duties demotion, refusal of promotion, unfair treatment, retaliation or any other form of direct or indirect discrimination;

Transfer to another department or change of duties without the consent of the reporting person;

Refusal to provide a reference letter following a relevant request of the reporting person;

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